Capital Link International Shipping Forum. March 20, 2008
|
|
- Shona Cook
- 5 years ago
- Views:
Transcription
1 Capital Link International Shipping Forum March 20, 2008
2 Disclosures Statements in this presentation which are not statements of historical fact are forward-looking statements (as such term is defined in Section 21E of the Securities Exchange Act of 1934, as amended). These forward-looking statements are based on the information available to, and the expectations and assumptions deemed reasonable by, the Company at the time this presentation was made. Although the Company believes that the assumptions underlying such statements are reasonable, it can give no assurance that they will be attained. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information or future events, unless it is required to do so under the securities laws. The Company makes no prediction or statement about the performance of its common units. EBITDA represents net income plus interest and finance costs plus depreciation and amortization and income taxes, if any. EBITDA is included because it is used by certain investors to measure a company's financial performance. EBITDA is a non-gaap financial measure and should not be considered a substitute for net income, cash flow from operating activities and other operations or cash flow statement data prepared in accordance with accounting principles generally accepted in the United States or as a measure of profitability or liquidity. EBITDA is presented to provide additional information with respect to the Company's ability to satisfy its obligations including debt service, capital expenditures, working capital requirements and determination of dividends. While EBITDA is frequently used as a measure of operating results and the ability to meet debt service requirements, the definition of EBITDA used here may not be comparable to that used by other companies due to differences in methods of calculation. 2
3 Agenda! Company and Fleet Overview! Growth Strategy! Industry Overview! Fourth Quarter 2007 Financial Results! 2008 Financial Forecast 3
4 Company and Fleet Overview
5 Overview Exchange/Ticker: NYSE / NMM Units Outstanding 10,500,000 Common Units & 7,621,843 Subordinated Units GP Interest 2% Minimum Quarterly Distribution $0.35 per unit ($1.40 annualized) Current Unit Price (1) $14.00 Current Dividend Yield (1) 10.00% Expected Tax Treatment of Distributions Form 1099: 56% of "qualified" dividend income and 44% of return of capital Focus Focus on fixed rate business (3+ years charter) in the Capesize and Panamax dry bulk markets Strategy Capitalize on high demand for long-term vessel employment & consolidate fragmented dry bulk market (1) As at March 13,
6 Navios Partners Ownership Structure 100% Membership Interest Navios Maritime Holdings Inc. NYSE: NM Common Unitholders (1) Navios GP L.L.C. (General Partner) 2.0% General Partner Interest Incentive Distribution Rights 41.2% Limited Partner Interest Navios Maritime Partners L.P. NYSE: NMM 56.8% Limited Partner Interest 100% Membership Interest Navios Maritime Operating L.L.C. 10 Drybulk Vessels! 1 Capesize and 7 Panamax drybulk carriers (active fleet)! 1 Contracted vessel acquisition (1 Capesize vessel in June 2009)! 1 Option to Purchase Capesize in October 2009 (1) Includes 2.7% of common units to be purchased by a corporation owned by Angeliki Frangou. 6
7 Modern, High Quality Capesize and Panamax Fleet Vessel Type DWT Year Built Ownership Purchase Option (1) Fantastiks Capesize 180, Chartered-in! Navios Prosperity Panamax 82, Chartered-in! Navios Alegria Panamax 76, % Current Fleet 8 Navios Galaxy I Panamax 74, % Navios Felicity Panamax 73, % Navios Libra II Panamax 70, % Navios Gemini S Panamax 68, % Navios Aldebaran Panamax 76, Chartered-in! (2) Navios TBN I Capesize 180, To be Owned (3) Navios TBN II Capesize 180, To be Owned Average Age of Fleet: (4) Average Age of Drybulk Industry: (5) (1) Purchase option of $34.2 million has been exercised to acquire in March (2) Purchasing from Navios Holdings for $130.0 million at end of June (3) Option to purchase from Navios Holdings for $135.0 million by October (4) Navios Partners fleet age weighted by DWT. (5) Source: Drewry Shipping Consultants, Ltd. As of September 30, years 16.0 years 7
8 2008 Fleet Initiatives $14.8 million annual incremental EBITDA! Aldebaran delivery 2008 built 76,500 dwt long-term chartered-in Panamax vessel Delivered March 17, 2008 Purchase option = $30 million (approx.) Chartered-out at $28,391 for five years (March 2013) Annual EBITDA = $5.4 million! Exercise purchase option on Fantastiks 2005 built 180,265 dwt Capesize vessel Acquisition price = $34.2 million (current market value* = $155 million) Low-cost credit facility available to finance 100% of the acquisition price Annual cost savings = $3.4 million (replacing charter-in rate with opex)! Felicity charter-out renewal Charter-out rate resets to $26,169 from $9,595 per day in April 2008 Duration of new charter is 5 years Annual incremental EBITDA = $6.0 million *Clarksons Research 8
9 Strong Relationships with Key Industry Participants Strong Counterparties! Provides greater security of cash flows! Opportunities to expand business relationships with largescale global operators! Counterparty insurance 9
10 Diversified Portfolio of Charters with Industry Leaders Remaining Charter Duration (1) Revenue by Charterer (1) 10+ years 10% 17% 25% 45% 5 10 years 3 5 years 23% 2% 45% 10% Average Remaining Charter Term: 5.2 years 13% 10% Over 55% of contracted volume secured by charters running longer than 5 years Diversified customer base with strong creditworthy counterparties (1) Note: As at December 31, Percentages weighted based on projected 2008 net revenues. Does not include Navios TBN I and TBN II vessels. 10
11 Growth Strategy
12 Multiple Avenues of Distribution Growth DISTRIBUTION GROWTH Purchasing Contracted Capesize and Panamax Vessels! Contracted charter-in of Aldebaran in March 2008! Contracted purchase of Navios TBN I Capesize vessel in June 2009! Option to purchase Navios TBN II Capesize Exercising Purchase Options! Exercise the purchase option for Fantastiks in March 2008! Rights to purchase Navios Prosperity and Navios Aldebaran in 2012 and 2013 Opportunities in the Drybulk S&P Market! Sale and purchases of drybulk vessels! Highly fragmented industry Additional Growth Through Navios Holdings Controlled Vessels! Right to purchase certain vessels on 3+ year charters! Navios Holdings has 41 Capesize and Panamax vessels Current 363,300 DWT 903,565 DWT Oct % (1) (2) 12 (1) Includes owned tonnage only. (2) Includes Navios TBN II that Navios Maritime Partners has the option to acquire in October 2009.
13 Relationship with Navios Holdings Provides Key Advantages Network of Strong Relationships! Drybulk and raw material producers! Industrial end-users! Agricultural traders and exporters High Quality Technical & Commercial Management! Fixed OpEx at below industry average (1)! History of low number of off-hire days (utilization of %) Proven Ability to Source New Assets! Grown controlled fleet to 62 vessels*! Required to offer certain owned vessels if Navios Holdings charters vessels for 3+ years! Long relationships with shipyards! Track record in the S&P market * As at 12/31/2007 (1) Five year management contract with two years fixed operating expenses for owned vessels. ($4,000 per day for panamax and $5,000 per day for capes) 13
14 Industry Overview
15 Favorable Demand Dynamics Strong Growth in Emerging Markets Seaborne Demand Amplified by Ton-Mile Effect " Emerging countries now contribute over half of world GDP (PPP basis) (1) " Emerging countries will grow at 6.8% for next 5 years " Increases in steel production, power generation and grain consumption " Long hauls with changing trading patterns " China s dependency on Brazilian iron ore " Inefficient transportation bottlenecks (e.g. port congestion) " China now a net importer of coal & corn; India a net importer of steel CHINA Significant Coastal Dry Cargo Volume Strong Domestic Demand " China coastal dry bulk cargo volume driving dry bulk vessel demand " Demand estimated to grow by over 40% over the next 5 years requiring the capacity of an additional 236 Panamax vessels " Urbanization and industrialization proceeding, including construction of ports, railways, bridges and roads Jing Ulrich, JPMorgan CHINA INDIA It s not all about China! " Crude Steel production to increase by 100 million mt by 2012 decreasing exports of iron ore " Ultra mega power plant projects being planned requiring coal imports " Major Port expansion program (1) The Economist September 14,
16 Growth in Asia Comparative imapct of Chinese and OECD IP growth % change 7% 6% 5% 4% 3% 2% 1% 0% kg/per capita 1,200 1, The Asian Growth Model: Steel production per capita -1% -2% -3% 1991 China im pact OECD im pact Combined impact Years Source: ICAP HYDE, December 2007 Japan China India South Korea Taiw an 16
17 Drybulk Vessels Supply vs. Aging Fleet! Order book includes mdwt (41.5% of fleet) of scheduled deliveries through 2010 (1) New vessels ordered today will not be delivered until Substantial greenfield shipyard risk Capesize orderbook to be built at 31 yards only 13 of them have built Capes before (3) Majority of tonnage on order at new facilities, several of whom face difficulties in sourcing steel, engines, tail shafts etc Credit crunch and steel plate prices may threaten existing orders and financing of new shipyards Drybulk Industry Age Profile (% dwt) (2) 50% 40% 30% 20% 10% 0% Over 20 Years Old 29% Total Drybulk Fleet Over 25 Years Old 14% Total Drybulk Fleet! Given strong market conditions, older vessels are not being actively scrapped (1) Source: Drewry Shipping Consultants, Ltd. (January 2008) (2) Source: SSY s Dry Bulk Forecaster (January 2008). (3) Source: Howe Robinson (January 2008) 17
18 Fourth Quarter 2007 Financial Results
19 Interim Q Financial Results Navios Partners Financial Results (Dollars in millions) Period from 11/16/07 to 12/31/07 (46 days) Time charter and voyage revenues Time charter and voyage expenses Management Fees $7.0 (1.5) (0.9) EBITDA Run Rate Depreciation and amortization (1.4) General and administrative (0.4) Net interest expense and finance cost (1.2) Net Income $1.6 EBITDA $4.3 Operating Surplus $3.3 Replacement Capex Reserve $1.0 EBITDA for 2007 interim period is not reflective of actual run rate, as this EBITDA does not include: "Cash flow from Aldebaran which will deliver in March 2008 "Cost savings due to exercising purchase option on Fantastiks in March 2008 "Charter-out rate on Felicity being renewed significantly higher in April 2008 Active vessels at 12/31/
20 Strong Balance Sheet Selected Balance Sheet data as at 12/31/2007 (Dollars in millions) 12/31/2007 Cash & cash equivalents $10.9 Other current assets 0.4 Vessels, net Total Assets $205.0 Current Liabilities $6.6 Long term Debt Equity 26.8 Total Liabilities $205.0 Low Cost Credit Facility! Credit facility in place to debt finance: 100% of the Purchase option for Fantastiks 50% of the acquisition vessel for the TBN I Cape delivering in June 2009! No amortization for 4 years Net Debt/Asset Value (1) 35.4%! $95.0 million of capacity undrawn on revolving credit facility! Low spread over LIBOR 20 (1) Assumes estimated current market value of assets as per Clarksons Research. Includes Fantastiks as an owned vessel.
21 Strong Common Unit Distribution Coverage Cash Distribution of $0.175 per unit for 46-day period from November 16, 2007 to December 31, 2007 Annualized Distribution = $1.40 per unit Record Date: February 11, 2008 ; Payment Date: February 14, 2008 Operating Surplus: $3,253,691 Distribution: $3,236,043 ($1,837,500 to Common Units) Common Unit Coverage: 1.8 x 21
22 2008 Financial Forecast
23 Summary 2008 Financial Forecast Navios Partners Financial Forecast (Dollars in millions) Twelve Months Ending December 31, 2008 Time charter and voyage revenues Time charter and voyage expenses Direct vessel expenses (management fees) Depreciation and amortization General and administrative Net interest expense and finance cost Net Income EBITDA Vessels at End of Period Revenue Days $68.7 (10.2) (8.7) (9.9) (2.0) (11.2) $26.7 $ ,835 Strong Projected EBITDA Growth with Expense Visibility! Increase in charter rates and vessel drop-downs from Navios Holdings provide for a large increase in run-rate EBITDA! Operating expenses fixed through fixed-rate contracts with Navios Holdings for 2 years $4,000/day for Panamax Vessels (1) $5,000/day for Capesize Vessels (1) (1) Operating expenses per day include management fees. 23
24 Strong Projected Common Unit Distribution Coverage Forecast Cash Available for Distribution (Dollars in millions, except per unit amounts) Twelve Months Ending December 31, 2008 EBITDA Less: Cash Interest Expense Plus: Cash Interest Income Less: Expansion Capital Expenditures Less: Replacement Capital Expenditures Reserve Plus: Borrowings to Fund Expansion Capital Expenditures Forecast Cash Available for Distribution Minimum Annual Distribution $47.7 (11.2) 0.2 (34.2) (9.5) 34.2 $27.2 $25.9 Forecast Distributable Cash Flow Per Unit $1.47 Minimum Distribution Per Unit $1.40 Common Unit Coverage Total Unit Coverage 1.85x 1.05x 24
25 Summary Investment Highlights Highly visible and stable cash flows from long-term charters Attractive dividend yield Significant growth opportunities Modern, high quality fleet with strong counterparties Strong dry bulk fundamentals Strong sponsorship with proven ability to grow fleet 25
26 Contact Public & Investor Relations Contact: Navios Maritime Partners L.P. Investor Relations Nicolas Bornozis Capital Link, Inc. Tel. (212)
27 Appendix
28 Staggered Charter Expiration Profile (1) Navios Alegria Navios Libra II $23,594 $23,513 DEC-2010 DEC-2010 Fantastiks Navios Prosperity $32,279 $24,000 MAR-2011 JUN-2012 Navios Aldebaran Navios Felicity $28,391 $9,595 $26,169 MAR-2013 APR-2013 Original Charter-Out Rate New Charter-Out Rate Navios Gemini S $19,523 $24,225 FEB-2014 Navios TBN I $47,400 JUN-2014 Navios TBN II Navios Galaxy I (2) $55,100 OCT-2014 $21,937 JAN Increase in charter rates and additional vessel purchases provide for a significant projected increase in 2009 and run-rate EBITDA (1) Per day, net of commission. (2) Option to purchase from Navios Holdings for $135.0 million by October
29 Key Financial Characteristics Stable cash flows Weighted average remaining term of approximately 5.2 years Young fleet Fleet age of 5.7 years (1) vs. industry fleet age of 16.0 years (2) Operating expense visibility 5-year contract with Navios Holdings with first two years fixed Significant built-in growth Cash flow growth from additional vessel purchases and higher charter rates Conservative leverage Low leverage provides ability to fund the majority of our growth with debt (1) Navios Maritime Partners fleet age weighted by DWT (2) Source: Drewry Shipping Consultants, Ltd. as of September 30,
30 Navios MLP Fleet Owned Vessels Vessels Type Built DWT Charter Rate ($) 1 Expiration Date 2 Navios Alegria Panamax ,466 19,475 12/31/ ,594 12/30/2010 Navios Libra II Panamax ,136 21,613 12/31/ ,513 12/30/2010 Navios Gemini S Panamax ,636 19,523 2/8/ ,225 2/8/2014 Navios Felicity Panamax ,867 9,595 4/25/ ,169 4/26/2013 Navios Galaxy I Panamax ,195 24,062 2/20/ ,937 2/21/2018 Total - 5 Vessels 363,300 Vessels Type Built DWT Charter-Out Rate ($) 1 Expiration Date 2 Purchase Option Fantastiks 3 Capesize ,265 32,279 3/1/2011 Yes 36,290 2/28/2014 Navios Prosperity Panamax ,535 24,000 7/4/2012 Yes Navios Aldebaran Panamax ,500 28,391 3/1/2013 Yes Total - 3 Vessels 339,300 Dropped Down Vessels Vessels Type Expected Delivery DWT Charter-Out Rate ($) 1 Expiration Date 2 Navios TBN I 4 Capesize Jun ,000 47,400 Jun-14 Navios TBN II 5 Capesize Oct ,000 55,100 Oct-14 Total - 2 Vessels 360,000 (1) Daily Charter-out rate net of commissions. (2) Assumed midpoint of redelivery by charterers. (3) Purchase option of $34.2 million has been exercised to acquire in March (4) Purchasing from Navios Holdings for $130.0 million at end of June (5) Option to purchase from Navios Holdings for $135.0 million by October
Fourth Quarter 2007 Earnings Presentation. February 11, 2008
Fourth Quarter 2007 Earnings Presentation February 11, 2008 Disclosures Statements in this presentation which are not statements of historical fact are forward-looking statements (as such term is defined
More information5th Annual Shipping, Logistics & Offshore Services Conference
5th Annual Shipping, Logistics & Offshore Services Conference New York City, September 16, 2008 Disclosures Statements in this presentation which are not statements of historical fact are forward-looking
More information6th Annual Shipping Conference
6th Annual Shipping Conference September 9, 2009 Disclosures Statements in this presentation which are not statements of historical fact are forward-looking statements (as such term is defined in Section
More informationNavios Partners Ownership Structure
First Quarter 2010 Earnings Presentation April 28, 2010 Agenda Company Overview Company Developments Review of Q1 2010 Financial Results Quarterly Cash Distribution Fleet and Operations Overview Industry
More informationFirst Quarter 2012 Earnings Presentation April 26, 2012
First Quarter 2012 Earnings Presentation April 26, 2012 Statements in this presentation which are not statements of historical fact are forward-looking statements (as such term is defined in Section 21E
More informationThird Quarter 2012 Earnings Presentation October 23, 2012
Third Quarter 2012 Earnings Presentation October 23, 2012 Statements in this presentation which are not statements of historical fact are forward-looking statements (as such term is defined in Section
More information2012 MLP Investor Conference May 23, 2012
2012 MLP Investor Conference May 23, 2012 Statements in this presentation which are not statements of historical fact are forward-looking statements (as such term is defined in Section 21E of the Securities
More informationAviation, Transportation & Defense Conference, NYC March 15, 2012
Aviation, Transportation & Defense Conference, NYC March 15, 2012 Statements in this presentation which are not statements of historical fact are forward-looking statements (as such term is defined in
More informationPipeline, MLP and E&P, Services and Utility Conference December 6, 2011
Pipeline, MLP and E&P, Services and Utility Conference December 6, 2011 Statements in this presentation which are not statements of historical fact are forward-looking statements (as such term is defined
More information2012 Pipeline, MLP & Energy Symposium December 4, 2012
2012 Pipeline, MLP & Energy Symposium December 4, 2012 Statements in this presentation which are not statements of historical fact are forward-looking statements (as such term is defined in Section 21E
More informationNavios Maritime Partners L.P. Reports Financial Results for the Second Quarter Ended June 30, 2014
Navios Maritime Partners L.P. Reports Financial Results for the Second Quarter Ended $117.7 million acquisition of two 8,200 TEU container vessels Net Income EBITDA Chartered-out for minimum four years
More informationGenco Shipping & Trading Limited
Genco Shipping & Trading Limited Q3 2005 Earnings Call November 3 rd, 2005 Forward Looking Statements "Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995 This presentation
More informationGenco Shipping & Trading Limited
Genco Shipping & Trading Limited Q1 2006 Earnings Call May 4, 2006 Forward Looking Statements "Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995 This presentation contains
More informationForward Looking Statements
1 Forward Looking Statements 2 This presentation contains forward-looking statements (as defined in Section 27A of the Securities Exchange Act of 1933, as amended, and in the Section 21E of the Securities
More informationGenco Shipping & Trading Limited
Genco Shipping & Trading Limited Q4 2007 Earnings Call February 14, 2008 Forward Looking Statements "Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995 This presentation
More informationNavios Maritime Partners L.P. Reports. Financial Results for the First Quarter Ended March 31, 2017
Navios Maritime Partners L.P. Reports Financial Results for the First Quarter Ended 2017 Revenue: $42.4 million in Q1 Adjusted EBITDA: $25.9 million in Q1 No debt maturities until August 2020 Acquired
More informationNavios Maritime Partners L.P. Reports Financial Results for the Fourth Quarter and Year Ended December 31, 2017
Navios Maritime Partners L.P. Reports Financial Results for the Fourth Quarter and Year Ended Revenue: $211.7 million for the year; $59.3 million for Q4 Net cash from operating activities: $53.9 million
More informationNavios Maritime Partners L.P. Reports Financial Results for the Fourth Quarter and Year Ended December 31, 2018
Navios Maritime Partners L.P. Reports Financial Results for the Fourth Quarter and Revenue: o $57.5 million in Q4 o $231.4 million for 2018 Net cash from operating activities: o $17.7 million in Q4 o $68.3
More informationGenco Shipping & Trading Limited
Genco Shipping & Trading Limited Q3 2007 Earnings Call November 1, 2007 Forward Looking Statements "Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995 This presentation contains
More informationNavios Maritime Holdings Inc.
Navios Maritime Holdings Inc. (NASDAQ NMS: BULK) October 2006 1 This presentation may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 about
More informationNavios Maritime Partners L.P. Reports. Financial Results for the Second Quarter and Six Months Ended June 30, 2017
Navios Maritime Partners L.P. Reports Financial Results for the Second Quarter and s Ended Revenue: $92.4 million for the six months; $50.0 million in Q2 Adjusted EBITDA: $58.1 million for the six months;
More informationNavios Maritime Partners L.P. Reports Financial Results for the Second Quarter and Six Months Ended June 30, 2018
Navios Maritime Partners L.P. Reports Financial Results for the Second Quarter and s Ended Revenue: $58.2 million in Q2; $111.2 million for the six months Net cash from operating activities: $24.8 million
More informationForward Looking Statements
1 Forward Looking Statements 2 This presentation contains forward-looking statements (as defined in Section 27A of the Securities Exchange Act of 1933, as amended, and in the Section 21E of the Securities
More informationGenco Shipping & Trading Limited
Genco Shipping & Trading Limited JPMorgan Aviation & Transportation Conference March 19, 2008 Forward Looking Statements "Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995
More informationEagle Bulk Shipping Inc. 4Q 2005 Results Presentation
Eagle Bulk Shipping Inc. 4Q 2005 Results Presentation March 7, 2006 Forward Looking Statements This presentation contains certain statements that may be deemed to be forward-looking statements within the
More informationGenco Shipping & Trading Limited. Capesize Acquisition Conference Call July 19, 2007
Genco Shipping & Trading Limited Capesize Acquisition Conference Call July 19, 2007 Forward Looking Statements "Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995 This presentation
More informationNAVIOS MARITIME PARTNERS L.P.
PROSPECTUS Filed Pursuant to 424(b)(3) Registration File No. 333-192176 $500,000,000 NAVIOS MARITIME PARTNERS L.P. COMMON UNITS REPRESENTING LIMITED PARTNERSHIP INTERESTS DEBT SECURITIES We may, from time
More informationwas RESULTS Q May 30, 2018
was RESULTS Q1-2018 May 30, 2018 FORWARD-LOOKING STATEMENTS Matters discussed in this presentation may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides
More informationDryShips Inc. Informational Roadshow NASDAQ: DRYS
DryShips Inc. Informational Roadshow NASDAQ: DRYS June 2006 Disclaimer Forward-Looking Statements This presentation contains forward-looking statements within the meaning of applicable federal securities
More informationSeeking Alpha Maritime Investor Forum Presentation. 19 June 2017
Seeking Alpha Maritime Investor Forum Presentation 19 June 2017 Disclaimer This presentation contains certain statements that may be deemed to be forward-looking statements within the meaning of Section
More informationForward Looking Statements
Eagle Bulk Shipping Inc. 3Q 2005 Results Presentation November 14, 2005 Forward Looking Statements This presentation contains certain statements that may be deemed to be forward-looking statements within
More informationGenco Shipping & Trading Limited. Stephens Inc. Fall Investment Conference November 18, 2008
Genco Shipping & Trading Limited Stephens Inc. Fall Investment Conference November 18, 2008 Forward Looking Statements "Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995
More informationEagle Bulk Shipping Inc. JPMorgan Aviation & Transportation Conference 19 March 2008
Eagle Bulk Shipping Inc. JPMorgan Aviation & Transportation Conference 19 March 2008 Forward Looking Statements This presentation contains certain statements that may be deemed to be forward-looking statements
More information3 rd Quarter and 9 Months 2010 Financial Results
3 rd Quarter and 9 Months 2010 Financial Results NASDAQ: SBLK November 2010 Safe Harbor Statement Except for the historical information contained herein, this presentation contains among other things,
More informationGenco Shipping & Trading Limited. Morgan Stanley Small Cap Executive Conference June 13, 2007
Genco Shipping & Trading Limited Morgan Stanley Small Cap Executive Conference June 13, 2007 Forward Looking Statements "Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995
More informationQ Financial Results
Q2 2015 Financial Results Management Team Polys Hajioannou Chairman and CEO Dr. Loukas Barmparis President Konstantinos Adamopoulos Chief Financial Officer Ioannis Foteinos Chief Operating Officer Forward
More informationSafe Bulkers, Inc. Reports First Quarter 2012 Results and Declares Quarterly Dividend
Safe Bulkers, Inc. Reports First Quarter 2012 Results and Declares Quarterly Dividend Athens, Greece May 8, 2012 -- Safe Bulkers, Inc. (the Company ) (NYSE: SB), an international provider of marine drybulk
More informationFourth Quarter & Fiscal Year 2008 Financial Results
Fourth Quarter & Fiscal Year 2008 Financial Results NASDAQ: SBLK March 17, 2009 Safe Harbor Statement Except for the historical information contained herein, this presentation contains among other things,
More informationDryShips Inc. Informational Roadshow November/December 2005 NASDAQ: DRYS
DryShips Inc. Informational Roadshow November/December 2005 NASDAQ: DRYS Disclaimer Forward-Looking Statements This presentation contains forward-looking statements within the meaning of applicable federal
More information4 th Quarter and FY 2013 Financial Results
NASDAQ: SBLK 4 th Quarter and FY 2013 Financial Results March 2014 Safe Harbor Statement Except for the historical information contained herein, this presentation contains among other things, certain forward-looking
More informationGenco Shipping & Trading Limited. Q Earnings Call February 25, 2009
Genco Shipping & Trading Limited Q4 2009 Earnings Call February 25, 2009 Forward Looking Statements "Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995 This presentation
More information9 th Global Shipping & Logistics Conference
9 th Global Shipping & Logistics Conference NASDAQ: SBLK September 2012 Safe Harbor Statement Except for the historical information contained herein, this presentation contains among other things, certain
More informationNASDAQ: SBLK. 4 th Quarter and FY 2015 Financial Results
NASDAQ: SBLK 4 th Quarter and FY 2015 Financial Results March 2016 Forward-Looking Statements Except for the historical information contained herein, this presentation contains among other things, certain
More informationSafe Bulkers, Inc. Reports Fourth Quarter and Twelve Months 2014 Results and Declares Quarterly Dividend on Common Stock
Safe Bulkers, Inc. Reports Fourth Quarter and Twelve Months 2014 Results and Declares Quarterly Dividend on Common Stock Monaco, Monaco February 26, 2015 -- Safe Bulkers, Inc. (the Company ) (NYSE: SB),
More information1 of 11 20/8/ :13 µµ
1 of 11 20/8/2015 10:13 µµ Navios Maritime Holdings Inc. Reports Financial Results for the Second Quarter and Six Months Ended June 30, 2015 MONACO -- (Marketwired) -- 08/20/15 -- Navios Maritime Holdings
More informationUBS Best of Americas Conference. Eagle Bulk Shipping Inc. 11 September Eagle Bulk Shipping Inc. DELIVERING SUSTAINABLE GROWTH
Eagle Bulk Shipping Inc. UBS Best of Americas Conference 11 September 2008 DELIVERING SUSTAINABLE GROWTH Forward Looking Statements This presentation contains certain statements that may be deemed to be
More informationEagle Bulk Shipping Inc. JPMorgan Aviation & Transportation Conference 11 March Eagle Bulk Shipping Inc.
JPMorgan Aviation & Transportation Conference 11 March 2009 Forward Looking Statements This presentation contains certain statements that may be deemed to be forward-looking statements within the meaning
More informationSafe Bulkers, Inc. Reports Second Quarter and Six Months 2017 Results
Safe Bulkers, Inc. Reports Second Quarter and Six Months 2017 Results Monaco July 26, 2017 -- Safe Bulkers, Inc. (the Company ) (NYSE: SB), an international provider of marine drybulk transportation services,
More information4 th Quarter and Full Year 2010 Results Presentation. 25 February 2011
4 th Quarter and Full Year 2010 Results Presentation 25 February 2011 Disclaimer Forward Looking Statement This presentation includes statements that are, or may be deemed to be, forward-looking statements
More informationGenco Shipping & Trading Limited. Genco Shipping & Trading Limited
Genco Shipping & Trading Limited Genco Shipping & Trading Limited Investor Day December 11, 2006 Forward Looking Statements "Safe Harbor" Statement Under the Private Securities Litigation Reform Act of
More informationEagle Bulk Shipping Inc. 4Q08 Results Presentation 3 March 2009
4Q08 Results Presentation 3 March 2009 Forward Looking Statements This presentation contains certain statements that may be deemed to be forward-looking statements within the meaning of the Securities
More informationGenco Shipping & Trading Limited. Morgan Stanley Commodities and Shipping Conference June 9, 2009
Genco Shipping & Trading Limited Morgan Stanley Commodities and Shipping Conference June 9, 2009 Forward Looking Statements "Safe Harbor" Statement Under the Private Securities Litigation Reform Act of
More informationNavios Maritime Containers Inc. Navios Maritime Containers Inc. Q Earnings Presentation
Navios Maritime Containers Inc. Q4 2017 Earnings Presentation January 29, 2018 Forward Looking Statements This presentation contains forward-looking statements concerning future events, including future
More informationInterim financial report for the period 1 January to 30 September 2010
Page 1 of 7 Interim financial report for the period 1 January to 30 September Highlights EBITDA was MUSD 5.2 for the first nine months, adjusted for the share options programme of MUSD 7.6. The result
More informationDryShips Inc. 3 rd Quarter and Nine Months Ended September 30, 2007 Earnings Presentation NASDAQ: DRYS
3 rd Quarter and Nine Months Ended September 30, 2007 Earnings Presentation NASDAQ: DRYS November 7, 2007 Forward Looking Statements Matters discussed in this presentation may constitute forward-looking
More informationFirst Half and Second Quarter 2012 Financial Results
First Half and Second Quarter 2012 Financial Results NASDAQ: SBLK August 2012 Safe Harbor Statement Except for the historical information contained herein, this presentation contains among other things,
More informationAviation, Transportation & Defense Conference 2011
Aviation, Transportation & Defense Conference 2011 1 Forward Looking Statements 2 This presentation contains forward-looking statements (as defined in Section 27A of the Securities Exchange Act of 1933,
More informationQ Financial Results
Q1 2014 Financial Results Management Team Polys Hajioannou Chairman and CEO Dr. Loukas Barmparis President Konstantinos Adamopoulos Chief Financial Officer Ioannis Foteinos Chief Operating Officer Forward
More informationNavios Maritime Holdings Inc.
Navios Maritime Holdings Inc. 5th Annual Shipping, Logistics & Offshore Services Conference New York City September 16, 2008 Disclosures Statements in this presentation which are not statements of historical
More informationNASDAQ: SBLK. Corporate Presentation
NASDAQ: SBLK Corporate Presentation March 2017 2 Forward-Looking Statements Except for the historical information contained herein, this presentation contains among other things, certain forward-looking
More informationGenco Shipping & Trading Limited. Goldman Sachs 3 rd Annual Shipping Conference November 28, 2006
Genco Shipping & Trading Limited Goldman Sachs 3 rd Annual Shipping Conference November 28, 2006 Forward Looking Statements "Safe Harbor" Statement Under the Private Securities Litigation Reform Act of
More informationDryShips Inc. NASDAQ: DRYS George Economou, CEO. Jefferies & Co. 4 th Annual Shipping Conference, New York, September, 2007
DryShips Inc. NASDAQ: DRYS George Economou, CEO Jefferies & Co. 4 th Annual Shipping Conference, New York, 25-26 September, 2007 Forward Looking Statements Matters discussed in this presentation may constitute
More informationEagle Bulk Shipping Inc. 2Q 2008 Results Presentation. 7 August 2008
Eagle Bulk Shipping Inc. 2Q 2008 Results Presentation 7 August 2008 Forward Looking Statements This presentation contains certain statements that may be deemed to be forward-looking statements within the
More information7 th Annual Invest in International Shipping Forum
7 th Annual Invest in International Shipping Forum March 21, 13 Ole B. Hjertaker, CEO 1 FORWARD LOOKING STATEMENTS This presentation contains forward looking statements. These statements are based upon
More informationNavios Maritime Holdings Inc. Q Earnings Presentation. November 20, 2018
Navios Maritime Holdings Inc. Q3 2018 Earnings Presentation vember 20, 2018 Forward Looking Statements This presentation and our earnings call contain and will contain forward-looking statements (as defined
More informationNASDAQ: SBLK. Corporate Presentation
NASDAQ: SBLK Corporate Presentation December 2016 Forward-Looking Statements Except for the historical information contained herein, this presentation contains among other things, certain forward-looking
More informationCompany Presentation June 2009
Company Presentation NASDAQ: SBLK June 2009 Safe Harbor Statement Except for the historical information contained herein, this presentation contains among other things, certain forward-looking statements,
More informationGeorge Economou, the Company s Chairman and Chief Executive Officer of DryShips Inc., commented:
DRYSHIPS INC. REPORTS SECOND QUARTER AND FIRST HALF 2007 RESULTS, THE ACQUISITION OF THREE ADDITIONAL VESSELS AND THE DISPOSAL OF ONE VESSEL August 21, 2007, Athens, Greece. DryShips Inc. (NASDAQ: DRYS),
More informationFreight Market Improves From Very Low Base
6 Oct 2016 Freight Market Improves From Very Low Base Baltic Handysize Index (BHSI) & Baltic Supramax Index (BSI) US$/day net* $10,000 $9,000 $8,000 $7,000 $6,000 $5,000 $4,000 BHSI: $2,563 30 Sep 2016:
More informationDRYSHIPS REPORTS RESULTS FOR THE FOURTH QUARTER AND TWELVE MONTHS ENDED DECEMBER 31, 2007
DRYSHIPS REPORTS RESULTS FOR THE FOURTH QUARTER AND TWELVE MONTHS ENDED DECEMBER 31, 2007 February 14, 2008, Athens, Greece. DryShips Inc. (NASDAQ: DRYS), a global provider of marine transportation services
More information1 st Quarter 2012 Results. Company Presentation 15 May 2012
1 st Quarter 2012 Results Company Presentation 15 May 2012 Disclaimer Forward Looking Statement This presentation (and oral statements made regarding the subjects of this presentation) includes statements
More informationNASDAQ: SBLK. Corporate Presentation
NASDAQ: SBLK Corporate Presentation September 2017 2 Forward-Looking Statements Except for the historical information contained herein, this presentation contains among other things, certain forward-looking
More informationNORDEN RESULTS. Full year results of Hellerup, Denmark 7 March Our business is global tramp shipping. NORDEN Full year result of
NORDEN RESULTS Full year results of 2011 Hellerup, Denmark 7 March 2012 NORDEN Full year result of 2011 1 AGENDA Group highlights Strategy Financial highlights Market expectations Dry Cargo Tanker 2012
More informationNavios Maritime Holdings Inc. Q Earnings Presentation. May 15, 2018
Navios Maritime Holdings Inc. Q1 2018 Earnings Presentation May 15, 2018 Forward Looking Statements This presentation and our earnings call contain and will contain forward-looking statements (as defined
More informationPRESENTATION OF NORDEN
PRESENTATION OF NORDEN Jyske Bank Company Day 27 November 214 CFO Michael Tønnes Jørgensen Presentation of NORDEN 1 AGENDA NORDEN at a glance Group highlights Financials Dry Cargo Tankers 214 expectations
More informationLooking Ahead: Key Themes for the Drybulk Market
Marine Money Ship Finance Forum November 12 th, 2014 Looking Ahead: Key Themes for the Drybulk Market Forward Looking Statements This presentation contains certain statements that may be deemed to be forward-looking
More informationQ Financial Results
Q3 2014 Financial Results Management Team Polys Hajioannou Chairman and CEO Dr. Loukas Barmparis President Konstantinos Adamopoulos Chief Financial Officer Ioannis Foteinos Chief Operating Officer Forward
More informationStealthGas Inc Page 1
Page 1 Disclaimer Forward-Looking Statements This presentation contains forward-looking statements within the meaning of applicable federal securities laws. Such statements are based upon current expectations
More informationCapital Product Partners L.P.
Capital Product Partners L.P. May 5, 2011 www.capitalpplp.com Disclosures This presentation contains forward-looking statements (as defined in Section 21E of the Securities Exchange Act of 1934, as amended)
More informationNASDAQ: SBLK. Corporate Presentation
NASDAQ: SBLK Corporate Presentation March 2018 1 2 Forward-Looking Statements Except for the historical information contained herein, this presentation contains among other things, certain forward-looking
More informationNavios Maritime Containers Inc. Reports Financial Results for the Fourth Quarter and Year Ended December 31, 2017
Navios Maritime Containers Inc. Reports Financial Results for the Fourth Quarter and Year Ended December 31, Acquired seven containerships for $128.0 million Grew fleet by 50% in Q4 (14 to 21 vessels at
More informationNavios Maritime Containers L.P. Navios Maritime Containers L.P. Fourth Quarter 2018 Earnings Presentation
Fourth Quarter 2018 Earnings Presentation January 30, 2019 Forward Looking Statements This presentation contains forward-looking statements concerning future events, including future contracted revenues
More informationStock Code: HSBC Shipping Day 2009, Hong Kong
Stock Code: 2343 HSBC Shipping Day 2009, Hong Kong Roadshow - 18 March 2009 Pacific Basin Overview World s leading dry bulk owner/operator of modern handysize vessels and a top 10 handymax operator, principally
More informationARDMORE SHIPPING CORPORATION Second Quarter 2014 Earnings Presentation. July 29, 2014
ARDMORE SHIPPING CORPORATION Second Quarter 2014 Earnings Presentation July 29, 2014 Disclaimer This presentation contains certain statements that may be deemed to be forward-looking statements within
More information6th Annual Capital Link Invest in International Shipping Forum. Company Presentation
6th Annual Capital Link Invest in International Shipping Forum Company Presentation March 19, 2012 Forward Looking Statements This presentation contains forward-looking statements (as defined in Section
More informationEARNINGS CONFERENCE CALL Third Quarter & Period Ended September 30, 2011
EARNINGS CONFERENCE CALL Third Quarter & Period Ended September 30, 2011 Disclosures and Forward Looking Statements This presentation contains certain statements that may be deemed to be forward-looking
More informationStar Bulk Carriers Fourth Quarter and Fiscal Year End 2008 Financial Results.
Star Bulk Carriers Fourth Quarter and Fiscal Year End 2008 Financial Results. Operator: Thank you for standing by ladies and gentlemen and welcome to the Star Bulk Carriers conference call on the fourth
More informationGenco Shipping & Trading Limited. Merrill Lynch Global Transportation June 18, 2008
Genco Shipping & Trading Limited Merrill Lynch Global Transportation June 18, 2008 Forward Looking Statements "Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995 This presentation
More informationNORDEN RESULTS. Third quarter of Hellerup, Denmark. 12 November Our business is global tramp shipping
NORDEN RESULTS Third quarter of 214 Hellerup, Denmark 12 November 214 NORDEN Third quarter of 214 results 1 AGENDA Group highlights Financials Dry Cargo Tankers 214 expectations Q & A NORDEN Third quarter
More informationWachovia Transportation & Packaging Conference 8 September Eagle Bulk Shipping Inc. Eagle Bulk Shipping Inc. DELIVERING SUSTAINABLE GROWTH
Eagle Bulk Shipping Inc. Wachovia Transportation & Packaging Conference 8 September 2008 DELIVERING SUSTAINABLE GROWTH Forward Looking Statements This presentation contains certain statements that may
More informationFinancial Results for the Six Months Ended 30 June October 2013
Financial Results for the Six Months Ended 30 June 2013 7 October 2013 Disclaimer Matters discussed in this presentation may constitute forward-looking statements. Forward-looking statements reflect the
More informationNORDEN RESULTS. Annual Report Copenhagen, Denmark. 1 March 2017 NORDEN ANNUAL REPORT 2016 RESULTS 1. Custodians of smarter global trade
NORDEN RESULTS Annual Report 216 Copenhagen, Denmark 1 March 217 NORDEN ANNUAL REPORT 216 RESULTS 1 AGENDA Group highlights Financials Dry Cargo Tankers 217 expectations Q & A NORDEN ANNUAL REPORT 216
More informationInvestor Presentation December 2014
Investor Presentation December 2014 Disclosures and Forward Looking Statements This presentation contains certain statements that may be deemed to be forward-looking statements within the meaning of the
More informationDrybulk market outlook
Drybulk market outlook Have we reached the bottom? 12 th Mare Forum Shipfinance 2012 Burak Cetinok Senior Analyst Amsterdam, Baltic Dry Index THE GREAT SHIPPING CYCLE 2001-08 Growth Fleet 46% Trade 5 CHINESE
More informationJustin B. Yagerman J.P. Morgan Asset Management Global Maritime and Transport
CHARTING THE COURSE: Maritime s role in institutional portfolios Justin B. Yagerman J.P. Morgan Asset Management Global Maritime and Transport FROM THE LOOKOUT: GLOBAL MARITIME Workhorse of the Global
More informationNavios Maritime Midstream Partners L.P. Reports Financial Results for the First Quarter of 2015
1 of 8 30/4/ 8:43 µµ Print Page Close Window Press Release Navios Maritime Midstream Partners L.P. Reports Financial Results for the First Quarter of MONACO -- (Marketwired) -- 04/30/15 -- Navios Maritime
More informationNavios Maritime Holdings Inc. Q Earnings Presentation. February 21, 2018
Navios Maritime Holdings Inc. Q4 2017 Earnings Presentation February 21, 2018 Forward Looking Statements This presentation and our earnings call contain and will contain forward-looking statements (as
More informationGeorge Economou CEO, DryShips Inc. The China Effect. Marine Capital Conference September
George Economou CEO, DryShips Inc. The China Effect Marine Capital Conference September 6 2007 Forward Looking Statements Matters discussed in this presentation may constitute forward-looking statements.
More informationPRESENTATION OF NORDEN
PRESENTATION OF NORDEN EVP Martin Badsted SEB Nordic Seminar 8 January 2014 Copenhagen SEB Nordic Seminar 8 January 2014 1 A LEADING GLOBAL TRAMP OPERATOR Dry cargo Capesize Post-Panamax Panamax Handymax
More informationInvestor Presentation
Investor Presentation March 2017 www.capitalpplp.com Forward Looking Statements This presentation contains forward-looking statements (as defined in Section 21E of the Securities Exchange Act of 1934,
More information